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:: 4.28.2005 ::
Shameless
Under the Jobs and Growth Act of 2003, "those claiming 100% business use of [forty-one domestic and 15 foreign] SUVs could deduct 100% of the [purchase] price ... during 2003 and until late October 2004." The American Jobs Creation Act of 2004 tightens this loophole, but stays far away from closing it completely. Read all about it in MSNMoney.
To quote the author, Tax savings for guzzler buyers reduce government revenue, increase the federal deficit, increase our trade deficit, and send yet more money to the Middle East. If we were going to devise a formula for wrecking the country, it would be difficult to improve on this one. We might as well call this portion of the American Jobs Creation Act of 2004 the Osama Bin Laden Support Fund. That's Farked! Especially considering that the Administration is cutting the hybrid vehicle tax break.
:: Deb 6:28 PM :: permalink ::
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